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| Manhattan luxury market logs best Thanksgiving week ever | ||
| 11/29/2021 5:15 PM | ||
| The holiday week gave New York’s high-end real estate agents plenty of reasons to be thankful. Thirty-seven, to be exact. That is how many contracts for homes asking at least $4 million were signed last week, the most during Thanksgiving week since Olshan Realty began tracking luxury Manhattan contracts in 2006. The average number of contracts s...Read More | ||
| Treasury Department to ease rent relief backlogs with reallocations | ||
| 11/29/2021 4:47 PM | ||
| States struggling to keep rent relief efforts alive could soon benefit from a Treasury Department plan to reallocate funds. Rental-assistance money would be shifted from municipalities with unused funds to those who desperately need it, the Wall Street Journal reported. Officials didn’t specify to the Journal which states and municipalities woul...Read More | ||
| Shokai Group picks up unsold NoMad condos for $81M | ||
| 11/29/2021 4:00 PM | ||
| Lendlease and Victor Group have resorted to a bulk buyer to unload condo units at 277 Fifth Avenue, selling 22 of them at a discount to the Shokai Group. City records show the nearly $81 million sale closed at the beginning of the month. The three companies were all partners on the development of the 55-story building, with the Shokai Group serv...Read More | ||
| Black Friday retail traffic stuck below pre-pandemic levels | ||
| 11/29/2021 3:22 PM | ||
| Even after the peak of the pandemic, Black Friday no longer appears to be the saving grace of retailers around the country. Retail traffic in the United States dropped 28.3 percent from 2019’s holiday, according to preliminary data from Sensormatic Solutions reported by CNBC. The data show traffic was up 47.5 percent from last year, when coronav...Read More | ||
| Brownstones rule Brooklyn’s luxury market Thanksgiving week | ||
| 11/29/2021 2:23 PM | ||
| Brooklyn brownstone owners had something to be thankful for last week, as eight of the stately properties were among the priciest homes to go into contract in the borough. The biggest price tag of the bunch belonged to 527 3rd Street in Park Slope, which was asking $7.25 million when it lined up a buyer. The restored, turn-of-the-century brownst...Read More | ||
| California falling short in creating affordable housing, new ‘report card’ shows | ||
| 11/29/2021 1:00 PM | ||
| California cities and counties didn’t permit nearly enough housing last year to keep pace with the state’s production goals, and much of what they approved wasn’t affordable to most residents, a new “report card” shows. Jurisdictions reported issuing about 109,000 housing permits last year, about three-quarters of what they would have needed to ...Read More | ||
| Coachella resort fraudster duped Sam Nazarian | ||
| 11/29/2021 12:00 PM | ||
| A 37-year-old woman is facing up to 20 years in prison after duping investors — including Sam Nazarian — out of millions for a resort in Coachella that never even broke ground. Serena Shi pleaded guilty to wire fraud after tricking investors out of $23 million for down payments on condos, a pot the Los Angeles Times reports she instead used for ...Read More | ||
| KPF expands at Tishman Speyer building after sweetener | ||
| 11/29/2021 11:15 AM | ||
| For the second time in recent weeks, Tishman Speyer had a tenant renew at 11 West 42nd Street with a sweetener thrown into the mix. Architecture firm Kohn Pedersen Fox renewed its lease at the building, the New York Post reported. The company added 38,000 square feet on the seventh floor, bringing its presence in the building to 100,000 square f...Read More | ||
| New firm pays $50M for Edgewater multifamily | ||
| 11/29/2021 10:00 AM | ||
| A new player has entered the real estate market with its first purchase of a multifamily asset in Edgewater, New Jersey. Skylight Real Estate Partners, in a joint venture with PCCP, acquired Infinity Edgewater, according to the Commercial Observer. The deal cost slightly more than $50 million and the JV received a $34.5 million, five-year, float...Read More | ||
| Build it and we will come: Turner Construction moves HQ to Tishman Speyer’s Spiral | ||
| 11/29/2021 9:15 AM | ||
| Turner Construction is leasing 75,000 square feet at Tishman Speyer’s The Spiral at 66 Hudson Boulevard. The New York Post reported the deal, which marks the general contractor throwing a lease behind its work as the project’s builder. The lease is for 13 years, according to the Post, and Turner will be moving from 375 Hudson Street to its new h...Read More | ||
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